S&P500 Speculators cut back on bets to a new short level this week

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S&P500 Non-Commercial Speculator Positions:

Large speculators decreased their bets in the S&P500 futures markets this week and pushed their overall position into negative territory, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of S&P500 futures, traded by large speculators and hedge funds, totaled a net position of -391 contracts in the data reported through Tuesday August 1st. This was a weekly decrease of -2,380 contracts from the previous week which had a total of 1,989 net contracts.

Speculative positions had risen seven out of the previous eight weeks before this week’s downfall pushed bet level back into negative territory for the first time in eight weeks.


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S&P500 Commercial Positions:

The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -17,476 contracts on the week. This was a weekly rise of 2,091 contracts from the total net of -19,567 contracts reported the previous week.

SPY ETF:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the SPY ETF, which tracks the price of S&P500 Index, closed at approximately $247.32 which was a decrease of $-0.10 from the previous close of $247.42, according to unofficial market data.

*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

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